With Orlando revenues not expected to hit the p&l till early 2019 Atlantic Petroleum does not at this stage expect to show a net profit or dividend for 2018.

Graeme Fawcett, Interim CEO commented:

“Atlantic Petroleum’s focus for 2018 is maintenance of stability. The key issues stated at the end of 2017 remain, which are to keep costs down, keep lean ready for revenues from disposed assets and to be flexible enough to evaluate new prospects aligned to our funding.”

Atlantic Petroleum in brief:

Atlantic Petroleum participates in oil and gas joint ventures with reputable, international partners. Atlantic Petroleum P/F is based in Tórshavn, Faroe Islands, and the Company currently has an office in London, UK. Atlantic Petroleum’s existing shares are listed on NASDAQ OMX Copenhagen and on Oslo Stock Exchange.

Further Details:

Further details can be obtained from Graeme Fawcett, ( graemef@petroleum.fo ). This announcement will be available, together with other information about Atlantic Petroleum, on the Company's website: www.petroleum.fo.

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